The future of hydrogen technology
In a world where collaboration and joint ventures are becoming the norm, Hyundai Motor Company and INEOS announced signing a memorandum of understanding to explore new opportunities to accelerate the global hydrogen economy.
“Hyundai and INEOS will jointly investigate opportunities for the production and supply of hydrogen as well as the worldwide deployment of hydrogen applications and technologies.
The agreement also includes the evaluation of Hyundai’s proprietary fuel cell system for the recently announced INEOS Grenadier 4×4 vehicle. This cooperation represents an important step in INEOS’ efforts to diversify its powertrain options at an early stage,” they said.
“Hyundai is one of the leading companies in the field of fuel cell technology having started the world’s first mass production of fuel cell electric vehicles in 2013.”
“INEOS’ move into the development of a fuel cell electric vehicle and hydrogen ecosystem marks yet another milestone towards sustainable and clean transportation,” said Saehoon Kim, senior vice-president and head of Fuel Cell Center at Hyundai Motor Company.
“Hyundai believes this will provide an important low-carbon option across a wide range of sectors. We also hope our decades-long expertise in hydrogen fuel cell work in synergy with INEOS’ expertise in field of chemistry to realise the mass production of green hydrogen and fuel cells for the Grenadier.”
Peter Williams, technology director INEOS, said, “The agreement between INEOS and Hyundai presents both companies with new opportunities to extend a leading role in the clean hydrogen economy. Evaluating new production processes, technology and applications, combined with our existing capabilities put us in a unique position to meet the emerging demand for affordable, low-carbon energy sources and the needs of demanding 4×4 owners in the future.”
INEOS currently produces 300 000 tons of hydrogen a year mainly as a by-product from its chemical manufacturing operations.
Hyundai Motor Group’s mid-to long-term road map, Fuel Cell Vision 2030, intends to increase annual production of hydrogen fuel cell systems to 700 000 units by 2030.
PFPR, on behalf of INEOS
